A lawsuit filed Friday blames the owners and others associated with a resort in Costa Rica for the carbon dioxide-related death of former New York Yankees outfielder Brett M. Gardner’s teenage son last year. Gardner and other relatives filed a negligence and wrongful death claim in Philadelphia federal court over the March 2025 death of 14-year-old Miller Gardner at the Arenas Del Mar Beachfront & Rainforest Resort in Manuel Antonio beach, located in Costa Rica’s Central Pacific. The defendants include people who own and operate the resort, including David Callan and R. Scott Williams, as well as Hawk Opportunity Fund…
Author: Awais
More than 350 people were hastily evacuated from an Orlando apartment complex last week after fire officials found cracks throughout the building along with doors that wouldn’t open. Local news outlets reported that a panicky resident called 911 Thursday morning to report popping and cracking sounds and a jammed front door at The Rialto, a five-story complex in southwest Orlando. Orange County Fire Rescue workers and a building inspector surveyed the building, found signs of structural instability and decided to evacuate all the residents, the Orlando Sentinel and Central Florida Public Media reported. A structural engineer hired by the complex…
Berkshire Hathaway Inc. will invest 287.4 billion yen ($1.8 billion) in insurer Tokio Marine Holdings Inc., ramping up the US conglomerate’s exposure to the Japanese market. National Indemnity Company, a subsidiary of Berkshire, will make a 2.49% strategic investment in Tokio Marine, according to a statement Monday. The two companies will collaborate on reinsurance and global investments including mergers and acquisitions. The move underscores Berkshire’s growing ambitions in Japan, where around six years ago — under the leadership of Warren Buffett — it revealed it had invested in the country’s largest trading houses. Buffett said in an annual letter to…
Iran will attack Israel’s power plants and those supplying U.S. bases across the Gulf region if President Donald Trump carries out his threat to “obliterate” Iran’s power network, the Revolutionary Guards said in a statement on Monday. They appeared to retract earlier threats to attack desalination plants, which are crucial for providing drinking water in Gulf countries. “The lying … U.S. president has claimed that the Revolutionary Guards intends to attack the water desalination plants and cause hardship to the people of the countries in the region,” said the statement, shared on state media. “Any attempt to attack Iran’s coasts…
Significant firepower on both sides Tokio Marine, Japan’s oldest insurance company, reported consolidated total assets of ¥31.2 trillion (roughly $205 billion) as of March 2025, with adjusted net income of approximately ¥1.07 trillion for the fiscal year. It operates in around 38 countries.
Chubb is the world’s largest publicly traded property and casualty insurer and provides political risk and maritime insurance to multinational corporations, energy companies, and shipping operators. Investor data shows Chubb shares at $322.58, with returns of 12.1% over one year, 80.3% over three years, and 117.8% over five years.
Sam Whitehead John Galvin knows he needs a colonoscopy. But he’s waiting to schedule the procedure until December, when he turns 65 and qualifies for Medicare. He was already thinking about delaying it — then his monthly Obamacare insurance premium payment tripled this year to $2,460, about a third of his income, he said. And with a $2,700 deductible, he’d be on the hook for most of the diagnostic exam, a financial hit he said he couldn’t stomach. “It was going to cost close to $3,000,” said Galvin, who lives in North Kingstown, Rhode Island, and recently retired as director…
Fermat Capital Management says a European proposal to limit retail investors’ access to catastrophe bonds faces serious pushback, as money managers specialized in insurance-linked strategies mount a coordinated front. John Seo, co-founder and managing director of the Connecticut-based hedge fund manager, says he’s been working with others in the industry to try to shield the market for cat bonds from the disruption he worries would follow such a regulatory intervention. He also says investors would ultimately find ways to work around stricter rules. “We’ve been heavily involved in the industry responses and coordinated with our peers in the industry to…
The overseas investment arm of China’s Ping An Insurance (Group) Company is reconsidering its exposure to the US as the Iran war fuels waves of volatility. The conflict in the Middle East has upended global markets over the past few weeks, dragging down global equities, pushing US yields to their highest level in months and sparking wild moves in the price of oil. It has also encouraged one of China’s biggest insurers to rethink how it approaches the world’s largest economy. “The key question for me to consider is how much and whether you continue to deploy capital into the…
Could a market that facilitates millions in wagers on how many times Vice President JD Vance claps during a State of the Union address, or whether Elon Musk will finally be unmasked as Satoshi Nakamoto—the elusive, pseudonymous creator of bitcoin—actually provide a serious hedge for global insurers? Although the insurance industry has always been in the business of calculating the odds, it has long been uneasy with the optics of betting. But as prediction markets like Polymarket and Kalshi seize global headlines with such high-volume wagers, a provocative question is stirring: If these platforms can price the hyper-specific behavior of…
A south Florida FedEx driver, now a quadriplegic after a vehicle crash in 2019, may need constant care and may benefit from a trip to see family members in New York. But the employer and the workers’ compensation insurer should not have to foot the bill for the trip, a Florida appeals court decided last week. Florida’s 1st District Court of Appeals, which handles workers’ comp claims appeals, overturned a judge of compensation claims ruling from 2025. The compensation judge, Jack Weiss, found that a family trip, with attendants and extensive medical equipment, was not actually medically necessary. But the…
On a trip to Dubai two years ago to review luxury hotels, I found myself at a beach-club brunch surrounded by people with British accents. Groups were debating the merits of different corners of the Clapham neighborhood. If not for the sunshine and the skyline, I could have been home in London. That’s by design. For more than two decades, Dubai has sold itself to Brits as a shinier alternative to Spain: winter sun without the drizzle — and without income tax. From the 1999 debut of the iconic sail-shaped Burj Al Arab hotel to the world’s largest man-made island,…
Hyundai Motor said on March 20 it has reports of four minor injuries because rear power seats in new Palisade SUVs may trap a person as sales remained halted after an incident earlier this month in which a two-year-old girl was killed in Ohio. Hyundai said on March 17 it was recalling 68,500 new Palisade SUVs in the United States and Canada over an issue with power seats following the child’s death on March 7. The South Korean automaker said last week that sales of its 2026 model Palisade Limited and Calligraphy trims had been halted indefinitely. It said the…
The website used by an Iranian government-linked hacking unit that claimed responsibility for a March 11 cyberattack on a U.S. medical device maker was back up and running a day after the FBI and Department of Justice seized its internet domains. Four domains associated with “Handala Hack Team” had been seized, the Department of Justice said on Thursday. Handala is one of several public personas used by a hacking unit operating under Iran’s Ministry of Intelligence and Security (MOIS) as part of the agency’s psychological operations, the DOJ said. On March 20, Handala said in a post on its website…